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360° - Fixed Income Report, Q3 2018

Home / Perspectives / 360° – Fixed Income Report, Q3 2018

Andrew Jackson, Head of Fixed Income
21 August 2018
Credit

When I started writing this launch issue of 360°, I aimed to provide catchy, easy-to-understand predictions followed by non-consensus opinions that would grab your attention. Unfortunately, I can’t give you either: disappointingly, my core views are currently profoundly vanilla.
A summary of my core views is as follows:

  • Credit fundamentals and affordability are positive.
  •  Having been stretched, valuations are now more attractive and the relative value of credit against equities appears favourable.
  • Technicals are severely stretched in certain credit sectors, but are broadly neutral or positive.
  • The complexity and illiquidity premia of certain sectors and instruments still offer significant value for investors with the required access and tolerance for risk.

 

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Andrew Jackson Head of Fixed Income Andrew joined Hermes in April 2017 as Head of Fixed Income. He is responsible for leading the strategic development of Hermes’ credit and direct lending investment teams, and developing a multi-asset credit offering capable of accessing all areas of the global credit markets for pension funds and other long-term institutional investors. Andrew joined from Cairn Capital where he was Chief Investment Officer. In this role, Andrew was responsible for the development of the asset management business, which included designing new products and managing the investment teams, including strategy, portfolio management and research. He has managed assets across the spectrum of global credit and fixed income. He was previously Vice President, European Credit Structuring at Bank of America, and has held roles with Fitch Ratings and PricewaterhouseCoopers. Andrew holds a BSc degree in Mathematics & Theoretical Physics from Kings College London.
Read all articles by Andrew Jackson

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